News: Front Section
Posted: June 3, 2022
Kelleher and Pentore of Horvath & Tremblay sell 30-unit for $14 million
Somerville, MA Dennis Kelleher and John Pentore of Horvath & Tremblay completed the sale of 19 Central St., a 30-unit apartment building. The brick asset sold for $14 million and $466,667 per unit.
Located just outside of Union Sq., 19 Central St. is in the path of the newly developed Green Line Extension. The property offered the rare opportunity to acquire a generational multi-family asset with upside potential in one of the hottest real estate markets in the region that is poised for future growth. The three-story building contains 30 residential units consisting of 15 one-bedroom/one-bathrooom units, 12 two-bedroom/one-bathroom units, and three studio units in 20,580 s/f of living area on a 0.56-acre parcel with parking for 33 vehicles. Building amenities include an on-site laundry facility, private storage, indoor bike racks and wall air conditioning units for all apartments. 19 Central St. is located in the Spring Hill neighborhood, less than ½-mile from the popular shopping, dining, fitness, and entertainment options at Union Sq. and the Union Sq. Station (0.7-miles) as well as 0.8-miles from the MBTA’s Porter Sq. Station.
Adding to 19 Central’s urban infill-location, the property sits just 0.7-miles to Harvard University and just over 1 mile to Harvard Sq.
The walkable neighborhood offers a live-work-play amenities, public transportation and highway access, as well as proximity to the nearby commercial centers of Harvard Sq., Kendall Sq. and downtown Boston.
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